Drama and the news. This is where we stand today and because of that it is basically a wait and see what the market actually does before we can commit to the downside or upside. This in itself is a problem for me because I like to tune out that crap and try to follow what I see. You can see below in my personal tracker it is not always easy but the most people, professionals included have a really hard time in these type of markets. So at this time in my personal funds, I’m treading water but poised and ready to pounce on what I see.
We have 3 pivot low’s that we are building on and we have officially closed above$1230.00 8 times in 10 days. What is also important is those 2 days that it did not close above $1230. Buyers came back in to push it back above $1230 because they saw value in the market. Why else do we buy stocks? Value and they look cheap at that moment in time. Do not forget that the S&P500 is made up of 500 stocks and when 70% report better than expected earnings, they start to look attractive to purchase. This quote from CNBC “70% beat estimates, 10% were in-line, and 20% were below estimates.” So with that in mind, once and whenever the world gets tired and bored with the Greece situation, I expect that the markets will go up.
I wrote some notes on the S&P500 chart above you might want to read. I also believe that if your currently out of the market you might want to watch close this week and maybe ease back in. Don’t throw the hole ball of wax in and start betting on the outcome, because if your wrong it will hurt. If your in, I would hold your position and keep watching the trends.
TSP Distribution: G-fund – 30%, C-fund 35%, S-fund 35%
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